Cairo – Mubasher: Cotton & Textile Industries Holding Co (CTIHC), affiliated to the Ministry of Public Business Sector, signed an agreement of cooperation with United Oil Processing and Packaging to establish a joint venture (JV) for cotton seed oil extraction.
The agreement is in line with the government’s strategy in entering into partnerships with the private sector, the Minister of Public Business Sector, Hisham Tawfik, said in a statement on Wednesday.
The proposed capital of the new JV amounts to EGP 250 million, he added.
The new company will be responsible for entering into agreements, supplying, and paying for the equipment used in manufacturing.
